Austria’s system of retirement pension has changed continuously since 1990, starting with the pensionskassen law to regulate pension benefits under relevant new occupational pension schemes (both DB and DC). A supplementary law, covering all other new company plans, was also introduced.

Social Security

Basic old age pensions are payable from age 65 for men and 60 for women. Normal retirement age for women will increase by six months per year from 2024 up to age 65 by 2033. Early retirement age is 65 for men and 60 for women. A maximum pension of 80% of the assessment bases is payable after 45 years of contribution.

Company plans

Pension plans may be either funded or book-reserved. Survivor pensions are on an accrued or accrued and projected basis. Unlike other countries, industrial/professional retirement plans with contributions paid by employers are not very common. There are no legal requirements for insolvency insurance. Contributions to pensionskassen may be made by both employers and employees, subject to an employee’s contributions being no higher than those of his employer.


Employer and employee contributions for pensions are normally tax-deductible, with a limit on employee contributions to private plans.